Exide Industries Q2 Results Live: Profit Falls by 14.15% YoY | Company Business News-OxBig News Network

Exide Industries Q2 Results Live : Exide Industries declared their Q2 results on 04 Nov, 2024, reporting a modest topline growth of 1.8% year-on-year. However, the company’s profit took a significant hit, decreasing by 14.15% compared to the same quarter last year.

When compared to the previous quarter, Exide’s revenue showed a slight improvement, growing by 0.32%, and profit saw a 5.1% increase. These figures highlight a mixed performance as the company navigates challenging market conditions.

The Selling, General & Administrative expenses rose sharply, increasing by 2.74% quarter-on-quarter and 9.93% year-on-year, indicating rising operational costs that may be affecting profitability. Additionally, the operating income fell by 0.86% quarter-on-quarter and decreased by 8.68% year-on-year, further reflecting the pressures on the company’s earnings.

Exide reported an Earnings Per Share (EPS) of ₹2.72 for Q2, marking a decline of 13.92% year-on-year. This drop in EPS is concerning for investors looking for growth in earnings.

In terms of market performance, Exide Industries has faced challenges, delivering a -4.09% return over the past week and -3.36% over the last six months. However, the company has managed a substantial 40.02% return year-to-date, suggesting some resilience in the long-term outlook.

The company’s current market capitalization stands at ₹37,829.25 crore, with a 52-week high of ₹620.35 and a low of ₹257.75, indicating a volatile trading period for the stock.

As of 05 Nov, 2024, the sentiment among analysts is mixed. Out of 16 analysts covering Exide, 3 have given a Strong Sell rating, 2 have rated it as Sell, 5 have given Hold ratings, 4 have rated it as Buy, and 2 analysts have assigned a Strong Buy rating. The consensus recommendation remains to Hold, reflecting uncertainty in the short-term outlook.

Exide Industries Financials